TPH gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 60 industry peers in the Household Durables industry. TPH has an excellent financial health rating, but there are some minor concerns on its profitability. TPH has a valuation in line with the averages, but on the other hand it scores bad on growth.

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1. Profitability

2. Health

3. Growth

4. Valuation

5. Dividend

1. Profitability

1.1 Basic Checks

TPH had positive earnings in the past year.
In the past year TPH had a positive cash flow from operations.
Each year in the past 5 years TPH has been profitable.
In the past 5 years TPH always reported a positive cash flow from operatings.

1.2 Ratios

With a Return On Assets value of 6.22%, TPH perfoms like the industry average, outperforming 56.67% of the companies in the same industry.
Looking at the Return On Equity, with a value of 9.39%, TPH is in line with its industry, outperforming 50.00% of the companies in the same industry.
The Return On Invested Capital of TPH (6.45%) is comparable to the rest of the industry.
TPH had an Average Return On Invested Capital over the past 3 years of 10.20%. This is in line with the industry average of 9.70%.

		Industry Rank	Sector Rank
ROA	6.22%
ROE	9.39%
ROIC	6.45%

ROA(3y)9.52%

ROA(5y)9.28%

ROE(3y)15.16%

ROE(5y)15.46%

ROIC(3y)10.2%

ROIC(5y)10.07%

1.3 Margins

With a decent Profit Margin value of 8.27%, TPH is doing good in the industry, outperforming 71.67% of the companies in the same industry.
TPH's Profit Margin has improved in the last couple of years.
TPH has a better Operating Margin (10.40%) than 66.67% of its industry peers.
TPH's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 22.20%, TPH is doing worse than 68.33% of the companies in the same industry.
In the last couple of years the Gross Margin of TPH has grown nicely.

		Industry Rank	Sector Rank
OM	10.4%
PM (TTM)	8.27%
GM	22.2%

OM growth 3Y-5.72%

OM growth 5Y7.18%

PM growth 3Y-4.72%

PM growth 5Y8.69%

GM growth 3Y-2.33%

GM growth 5Y2.47%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), TPH is creating some value.
The number of shares outstanding for TPH has been reduced compared to 1 year ago.
The number of shares outstanding for TPH has been reduced compared to 5 years ago.
Compared to 1 year ago, TPH has an improved debt to assets ratio.

2.2 Solvency

An Altman-Z score of 3.88 indicates that TPH is not in any danger for bankruptcy at the moment.
TPH's Altman-Z score of 3.88 is fine compared to the rest of the industry. TPH outperforms 61.67% of its industry peers.
TPH has a debt to FCF ratio of 4.34. This is a neutral value as TPH would need 4.34 years to pay back of all of its debts.
With a Debt to FCF ratio value of 4.34, TPH perfoms like the industry average, outperforming 55.00% of the companies in the same industry.
A Debt/Equity ratio of 0.36 indicates that TPH is not too dependend on debt financing.
TPH has a Debt to Equity ratio (0.36) which is comparable to the rest of the industry.

		Industry Rank	Sector Rank
Debt/Equity	0.36
Debt/FCF	4.34
Altman-Z	3.88

ROIC/WACC0.74

WACC8.72%

2.3 Liquidity

TPH has a Current Ratio of 9.02. This indicates that TPH is financially healthy and has no problem in meeting its short term obligations.
Looking at the Current ratio, with a value of 9.02, TPH belongs to the top of the industry, outperforming 90.00% of the companies in the same industry.
A Quick Ratio of 1.99 indicates that TPH should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.99, TPH belongs to the top of the industry, outperforming 85.00% of the companies in the same industry.

		Industry Rank	Sector Rank
Current Ratio	9.02
Quick Ratio	1.99

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

The earnings per share for TPH have decreased strongly by -29.67% in the last year.
The Earnings Per Share has been growing by 26.86% on average over the past years. This is a very strong growth
TPH shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -16.60%.
Measured over the past years, TPH shows a small growth in Revenue. The Revenue has been growing by 7.82% on average per year.

EPS 1Y (TTM)-29.67%

EPS 3Y5.7%

EPS 5Y26.86%

EPS Q2Q%-45.76%

Revenue 1Y (TTM)-16.6%

Revenue growth 3Y4.1%

Revenue growth 5Y7.82%

Sales Q2Q%-25.74%

3.2 Future

The Earnings Per Share is expected to decrease by -15.26% on average over the next years. This is quite bad
Based on estimates for the next years, TPH will show a decrease in Revenue. The Revenue will decrease by -8.56% on average per year.

EPS Next Y-41.41%

EPS Next 2Y-30.62%

EPS Next 3Y-15.26%

EPS Next 5YN/A

Revenue Next Year-23.15%

Revenue Next 2Y-16.48%

Revenue Next 3Y-8.56%

Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 9.81 indicates a reasonable valuation of TPH.
Based on the Price/Earnings ratio, TPH is valued a bit cheaper than the industry average as 71.67% of the companies are valued more expensively.
When comparing the Price/Earnings ratio of TPH to the average of the S&P500 Index (28.82), we can say TPH is valued rather cheaply.
With a Price/Forward Earnings ratio of 14.31, TPH is valued correctly.
TPH's Price/Forward Earnings ratio is in line with the industry average.
TPH's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 25.95.

		Industry Rank	Sector Rank
PE	9.81
Fwd PE	14.31

4.2 Price Multiples

63.33% of the companies in the same industry are more expensive than TPH, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, TPH is valued a bit cheaper than 80.00% of the companies in the same industry.

		Industry Rank	Sector Rank
P/FCF	10.54
EV/EBITDA	7.72

4.3 Compensation for Growth

TPH has a very decent profitability rating, which may justify a higher PE ratio.
TPH's earnings are expected to decrease with -15.26% in the coming years. This may justify a cheaper valuation.